Method and system for enterprise software having direct debit mandates

Abstract

A system and method for providing a financial software system to various actors in the financial supply chain to facilitate transactions and communications. Specifically, direct debit mandates may be modeled as a business or process object with generic services that can be consumed from other applications deployed at various actors supporting different processing steps in the financial supply chain. Such can be compatible with both the debtor and creditor systems allowing for payments and collections to take place without undue work, time loss, or expense.

1 . A method for direct debiting, comprising:
 providing a process object, the process object having at least one information describing a direct debit mandate;   communicating the direct debit mandate as a process object to a creditor using the same process object, wherein the process object maintains its direct debit mandate features,   reading the direct debit mandate by the creditor for the description of the direct debit mandate;   requesting a payment from the debtor via direct debit;   validating the requesting the payment with the description of the direct debit mandate; and   implementing a financial software at both a creditor bank and a debtor bank, the financial software having at least one common process object concerning direct debit mandates,   wherein the creditor and debtor banks communicate and exchange payment based on the at least one common process object concerning direct debit mandates.   
     
     
         2 . The method of  claim 1 , wherein the at least one common process object concerning direct debit mandates includes authorization from a debtor to pay a predetermined monetary amount to a creditor. 
     
     
         3 . The method of  claim 2 , wherein the authorization includes a specific date for payment. 
     
     
         4 . The method of  claim 1 , further comprising:
 receiving at least one signed mandate from the debtor by the creditor;   initiating the direct debit with the creditor bank by the creditor;   collecting the direct debit from the debtor bank;   requesting information on the direct debit collection from the debtor by the debtor bank.   
     
     
         5 . The method of  claim 4 , wherein the debtor provides a signed direct debit mandate as one of a one-time mandate and a recurrent mandate for each direct debit collection to be made. 
     
     
         6 . The method of  claim 5 , wherein the financial software can effect at least one of a creation of a direct debit mandate, transmission of a direct debit mandate, and cancellation of a direct debit mandate. 
     
     
         7 . A method for communicating between banking and non-banking entities, comprising:
 receiving by the creditor a signed direct debit mandate from a debtor;   communicating by the creditor the signed direct debit mandate to a bank of the creditor, the bank reading the signed direct debit mandate;   communicating by the bank of the creditor a request for direct debit payment and the direct debit mandate to the bank of the debtor; and   allowing by the bank of the debtor the bank of the creditor to debit from a bank account of the debtor.   
     
     
         8 . The method of  claim 7 , wherein the direct debit mandate is communicated as a software object. 
     
     
         9 . The method of  claim 8 , further comprising:
 communicating an unsigned direct debit mandate to a debtor;   signing the direct debit mandate by the debtor; and   communicating the signed direct debit mandate by the debtor to the creditor.   
     
     
         10 . The method of  claim 9 , wherein the creditor stores the unsigned direct debit mandate, communicates the unsigned direct debit mandate to the debtor, and then updates the stored direct debit mandate with the signed direct debit mandate. 
     
     
         11 . The method of  claim 8 , wherein before allowing the bank of the creditor to debit the bank account of the debtor, the bank of the debtor communicates with the debtor to at least one of validate the direct debit mandate, notice the debtor of a withdrawal, notice the debtor of a lack of funds. 
     
     
         12 . The method of  claim 8 , further comprising:
 debiting by the creditor bank the bank account of the debtor; and   communicating by the creditor bank the debiting event to the creditor.   
     
     
         13 . The method of  claim 8 , wherein the banks of the creditor and debtor use different software than the debtor and creditor. 
     
     
         14 . The method of  claim 8 , wherein the debtor provides a signed direct debit mandate as one of a one-time mandate and a recurrent mandate.